The agreement will see Columbia Care’s BeneCeed CBD tablets imported into the United Kingdom for a clinical study.

Why It Matters

The agreement is the first step in Columbia Care's efforts to hold global clinical trials using its cannabis, the company said.

BeneCeed will become the first approved cannabinoid investigational medicinal product imported from the U.S. by the U.K.’s Medicines and Healthcare products Regulatory Agency.

BeneCeed would be used in an examination of a late-stage Phase 2b trial.

Rosemary Mazanet, Columbia Care’s chief scientific officer, touched on the importance of the news in a statement.

“I am proud that we are now raising the bar once more with our funding and independent research partners as we move closer to reaching this momentous milestone for our company.”

IPS Specials has nearly two decades of experience facilitating the import of investigational medicinal products, Mazanet said. Columbia Care is also working with Grow Biotech, "a specialist in navigating challenging regulatory frameworks across the world," to coordinate the effort, she said.

Columbia Care's stock was trading down 1.27% at $4.75 at the time of publication Thursday.